Mariah Carey has quietly sold the 35-carat diamond ring James Packer gave her in 2016.

According to Page Six, the 48-year-old singer sold the sparkler to a jeweller in Los Angeles for $2.7 million AUD.

"Mariah has been very vocal recently about her choice to move forward in her life surrounded by positivity," her publicist told the outlet. "That requires leaving emotional and material baggage behind, including an old engagement ring from an ex-boyfriend."

Mariah Carey and James Packer. (PA)

An insider told Page Six that Carey's team have been trying to keep the sale on the down low.

"A confidentiality agreement was signed, but the jeweller is currently selling it, and there’s only one such ring," the insider disclosed. "Mariah Carey’s public relations people are desperately trying to keep the story from the press, and have threatened the jeweller with litigation if he discloses her name."

Mariah Carey's engagement ring from James Packer. (9NEWS)

Carey and Packer got together in June 2015 after they were introduced by film director Brett Ratner.

The billionaire proposed in January 2016, but the relationship ended in October that year after they fought in Greece.

Last year, they reportedly reached a multi-million dollar settlement agreement which saw the Carey receive between $6 million - $13 million AUD ($5 million - $10 million USD) -- inclusive of the value of the diamond ring.

Last October, Packer told The Australian that his relationship with Carey was "a mistake".

"I was at a low point in my personal life," he said. "Brett Ratner put Mariah and me together. She was kind, exciting and fun. Mariah is a woman of substance. She is very bright. But it was a mistake for her and a mistake for me."